According to the latest statistics from the on-chain data platform, Ethereum's price fluctuations are facing two key liquidity nodes.

Looking downwards, if Ethereum falls below the $3100 threshold, the long positions on mainstream exchanges will face tremendous pressure—cumulative liquidation intensity will soar to a scale of 427 million. This means that once the price reaches this level, it will trigger a chain reaction of stop-loss liquidations.

Looking upwards presents a different story. If Ethereum can break above $3300, the days for the bears will be difficult. At that point, the cumulative short liquidation intensity will reach 885 million, enough to trigger a reverse liquidity shock.

It is worth noting that the "liquidation intensity" here does not calculate the exact number of contracts or precise liquidation funds. The bars on the liquidation chart actually reflect the relative importance between adjacent liquidation levels—that is, how much impact the market will experience when the price reaches a certain level. The taller the bar, the more intense the market reaction when the price enters that zone, because the concentration of liquidity is higher.

In other words, these two price levels are not just numbers; behind them are a large number of stop-loss orders and position distributions of traders. When the market reaches these critical points, the momentum will be significantly amplified.